New home closings in the Barnstable Town, MA market remained steady year-over-year in July, staying level after a year-over-year decline in June from the year earlier. Closings remained level at none from a year earlier after the figure moved from 1 in June 2014 to none in June 2015. New home closings moved from none a year earlier to none after the figure moved from 1 in June 2014 to none in June 2015.
For new and existing homes, closings grew year-over-year in July after also increasing in June year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings rose in July from a year earlier and did not look to be a burden on the market. Together, foreclosures plus REO closings represented 13.5% of existing home closings, up from 7.0% a year earlier. The percentage of existing home closings involving foreclosures rose to 5.9% in July from 4.5% a year earlier while REO closings as a percentage of existing home closings rose to 7.5% from 2.5%.